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Old 09-07-2014, 11:47 AM
Michael Levanduski's Avatar
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Join Date: Aug 2013
Location: Grand Rapids, MI
Posts: 180
Default Freelance Business Questions

I'm finally getting around to starting my own business for my freelance work (for taxes/legal reasons).

Have any of you done this? If so, what type of business did you set up? DBA? LLC? Something else?

How did you do it? LegalZoom is what I'm looking at, but if there is a better option I'd love to hear it.

Any tips/tricks/advice?

Thanks!
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Old 09-08-2014, 08:22 AM
mwldream's Avatar
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Join Date: Feb 2014
Location: Algarve, Portugal
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Hi Michael,

I am based in Portugal so I am sure it is different in the US and have also been registered in the UK before I moved to Portugal.

I started off as a solo trader back in 2005, then the same again in Portugal from 2009 and at the beginning of this year due to paying way too much tax moved to being a LLC. There is a lot more paperwork involved even with my accountant doing the bulk of it for me but my tax is a lot lower. As I have gone from paying 450 a month in social security and 54% tax to 333 and 25% tax. Plus as an LLC a lot of business expenses such as the camera, laptop, attending events are all tax deductable.

Generally speaking a company is better if you are earning above $50,000 a year or have a lot of expenses to do with your work such as outsourcing. Though, I do know writers that become a company from the start.

It just depends on your personal circumstances.

I am not a freelance writer like yourself more an internet marketing coach and blogger/ebook author but I imagine it would be very similar for you.
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